Predicate Proposal - Legal Entity Identifier

Predicates
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#1

Definition: The unique Legal Entity Identifier (LEI) for a company, registered with the Global Legal Entity Identifier Foundation https://gleif.org. Any company can register for one (small annual fee required) but one is required for certain financial transactions and regulatory reporting. The company information is verified against company records in the original jurisdiction, and includes legal and headquarters address, alternate names and parent company information.
It is never reassigned or reused so remains valid even if the annual registration has lapsed.
Each Company should have at most one LEI. If there appear to be more, then they are for different companies and potentially a separate company entity should be created. Check the Legal Name for the LEI that applies.

LEIs can be used as globally unique URLs following the pattern:
https://search.gleif.org/#/record/<LEI>
Or as URIs following the pattern:
https://rdf.gleif.org/L1/L-<LEI>

Tooltip definition of the predicate: “The unique LEI for a Company, registered at https://gleif.org”

Type of value: String (always 20 characters)

For enums - all possible values: N/A

# of accepted values: One

Inverse Properties and Name: N/A

Examples of proper use:

  • Microsoft → ‘Legal Entity Identifier’ → ‘INR2EJN1ERAN0W5ZP974’ is correct, as it corresponds with: https://search.gleif.org/#/record/INR2EJN1ERAN0W5ZP974 which is the the same entity (Microsoft) as the the subject of the triple.

Examples of improper use:

  • Microsoft → ‘Legal Entity Identifier’ → ‘549300M3AZZ2FGZX6Y51’ is incorrect, as it corresponds with https://search.gleif.org/#/record/549300M3AZZ2FGZX6Y51 which is is for a subsidiary which is a different company: Microsoft Capital Group, LLC.
  • Satya Nadella → ‘Legal Entity Identifier’ → ‘INR2EJN1ERAN0W5ZP974’ is incorrect since a Person does not have a LEI
  • Coinbase → ‘Legal Entity Identifier’ → “5493004G3J2SC154DU06”, “549300QHD76EP6ZKTT48” is incorrect since a company can have only one LEI: the two LEIs are for Coinbase Global, Inc and its subsidiary Coinbase, Inc… Since the Legal Name triple for the company in Golden is “Coinbase Global, Inc” then only the first LEI, 5493004G3J2SC154DU06, should be used

Usage in other schemas:

Citation Required?: No - the LEI functions as its own citation as the URL for the GLEIF Legal Entity page can be formed out of the LEI

2 Likes
#2

A very well written proposal! I would support it. Just a question, do u know how many entities registered in the system and how popular it is?

1 Like
#3

Thanks, @Ras. There are about 2.25 million entities right now.
Not sure how to measure “popular” but it’s required for a whole bunch of financial investment-type transactions. Here’s a good article Will Legal Entity Identifiers Get a Legislative Boost? about its current and future usage - the Financial Data Transparency Act mentioned was finally approved in December.
Also the LEI records provide a great reference for other data about companies including addresses, jurisdiction, legal forms, additional names and corporate structures. And there are cross-references to other identifiers such as S&P Company Number.

1 Like
#4

Legal Entity Identifier predicate vote

  • Yes, implement this predicate
  • No - do not implement

0 voters